Holiday Inn Ocotillo

• Edgewood funded a $9,250,000 bridge loan secured by a first mortgage on a 106-key Holiday Inn hotel located in Chandler, AZ.

• Edgewood’s loan will be used to acquire the property and provide capital for the PIP required.

• Edgewood was able to close quickly within a few weeks with the borrower constrained by a hard closing date.

• The property was under-performing due to a lack of management from the absentee owner.